The Sino-US trade war and social unrest in Hong Kong, coupled with the decline in the number of visitors to Hong Kong, have greatly affected the retail shop market
Some of the owners have taken the initiative to smash the goods, and Sham Shui Po has changed the land by about 18 million yuan, which is about 28 million yuan lower than the original asking price, which is about 36% lower.
Huang Weiji, director of the retail department of Zhongyuan (Industrial and Commercial Services), said that the number of transactions in shops in recent months has dropped significantly. Recently, some owners have lowered their intentional prices to attract investors. Many of the price reduction cases are concentrated in Kowloon. The above-mentioned price reduction shops are underground at 25E to 25F, Poplar Street, with an area of about 1,098 square feet.
The number of transactions and the amount of the transaction fell by 60%
He revealed that many owners who have been holding goods for many years will not hesitate to make a profit. The ground floor of No. 34, Boundary Street, Prince Edward, covers an area of about 1,100 square feet and is sold for about $18 million. The rental return rate is about 4.1%. It is reported that the original intention price of the property is about 24 million yuan, and the final reduction is about 25%. The original owner purchased the shop in 1995, and the profit was about 12.8 million yuan.
According to the bank’s data, the trading market in August has turned weak
Only 46 transactions were recorded in a single month, involving an amount of about 1.364 billion yuan. The two figures fell by about 60% compared with the same period of last year, and more since February 1996. For the first time, it fell below 50 levels on a monthly basis. The turnover was 1.364 billion yuan, about 61% less than the same period last year.
Wong also expects that as the trading volume and amount of shop sales in the second half of the year will be lowered, the price reduction plate will continue to emerge and the reduction will gradually expand.